Las Vegas based Wynn Resorts reported their second quarter results this morning. Net revenues were below many analysts expectations but EBITDA was stronger than expected.
The press release is here:
Occupancy in Las Vegas is off almost 10 points from the year ago quarter and ADR is down to just over $200 as many recent visitors can attest to. REVPAR in Las Vegas was off over 35% to $188, though over 2,000 additional rooms are included in the figures for this quarter.
The stock has been trading up $5/share as of this writing.
Update: Fixed the poorly worded headline.